Employee Benefits

In this volatile time of rising health care costs, along with legislative and regulatory changes, you may have noticed a significant impact on your employee benefits plan.  A quality group benefits package offers you the employer a way to attract and retain key talent, improve employee satisfaction and increase workplace productivity.

What can you do as a business owner?  Offer Employee Benefits.

What are Employee Benefits?

If you already offer your employees a group health insurance plan you may want to offer them employee benefits along with it.  Sometimes called supplemental insurance or voluntary benefits, they are offered directly to the employees and they can choose to purchase them in addition to the health insurance.

Employee benefits can include things like life insurance, dental insurance, vision insurance, disability insurance, critical illness insurance, and accident insurance.

Why would I offer employee benefits to my employees?

Employee benefits can help fill coverage gaps that health insurance does not cover.  Giving your employees a menu of benefits can help them choose packages that suit their needs.  A middle-aged employee might want to purchase a critical illness policy, while a younger employee might go with an accident or injury policy which can provide some cost protection if a child gets hurt playing a sport or some other activity.

How will my business and my staff benefit from employee benefits?

  • Benefits to the business
    • Little or no cost - as the employer you can offer these benefits to your employees at no direct cost to you.  The plans can be 100% employee-paid, which also saves on payroll taxes.
    • Attracting or keeping key employees - offering  benefits is a very effective way to retain staff and even help recruit new employees to make your business grow.  
  • Benefits to the employees
    • Affordability - benefits can be deducted via payroll, which means no need to worry about missing payments.  When withdrawn via payroll the benefits are paid pre-tax, which means that the employee is saving money. The benefits are paid directly to the employee, so they can use the money where they need it most.
    • Flexibility - with a wide range of options employees can choose benefits that suit their life circumstances.  Most benefits are also portable, which means that if an employee should leave, they can continue to keep the coverage's if the premiums continue to be paid.
    • Filling in the gap - employee benefits can provide a financial safety net to help employees with unexpected expenses that may not be covered by their health insurance.

Need help choosing the right employee benefits package for your business? Give us a call! 


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